A Day In The Life of a Business Development Representative in Real Estate Tech

JC_1
Name: Jordan Cohen
Job Title:Business Development Representative
Company:redIQ
Education:
Location:New York, NY
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Job Description

As a BDR, you will be seeking, contacting and developing relationships with real estate investors, brokers and lenders to create new business opportunities. In addition, you will work closely with the sales and marketing team as an essential part in developing new, effective and innovative outreach strategies and processes.  

To be successful in this role, you should have previous experience developing leads from marketing campaigns and meeting sales quotas. You will use your verbal and writing communication skills to cultivate strong relationships with prospects. If you are motivated and results-driven, and fascinated by the real estate industry, we’d like to meet you. 

Ultimately, you will boost sales and contribute to our long-term business growth. 

  • Schedule product demos between prospective clients and Account Executives 
  • Qualify inbound leads from marketing campaigns as sales opportunities 
  • Contact potential clients through cold calls and emails
  • Utilize CRMs and sales software to build repeatable outreach cadences
  • Identify client needs and suggest appropriate use cases
  • Build long-term trusting relationships with prospective clients 
  • Keep updated with industry news, trends and top players 
  • Report to the Business Development Team Lead on weekly basis 
  • Be a product expert and stay updated with

What were your first career goals?

Can you name one experience that significantly impacted your career?

How have your goals evolved throughout your career?

How did you get your current job?

ADITL: Thursday

Wake up at 7:00 AM

I wake up, shower, get dressed, get on computer and search the internet for news and interesting articles.

Leave for work at 8:30 AM

Commute:

I  head out for the NJ PATH Train. The trains are terrible so a 30 minute commute can sometimes take an hour.

Arrive to work at 9:30 AM

Work Environment:

We have a trendy new HQ office on 42nd Street near Grand Central. When walking in, we have our main conference room, and down the hall we have the sales floor which is set up as a bullpen. It’s a typical sales floor environment with sports and current news chit chat. I have desk on the sales floor where I dock my laptop and have a dual screen extension. First thing I do in the morning I send out reminder emails for the demos booked that day.

10:00 AM

Call block #1 for the day. A “call block” is time we have blocked off where we do nothing but make calls. This ensures that we are most productive and distraction free during this time.

I begin to call a list of individuals targeted to be called this morning. It’s 2 hours of constant dialing, setting up times for individuals to check out the redIQ platform.

My fingers get cramped but it is the thrill of the chase for that “yes.”

12:00 PM

It’s lunch time, I usually go to Café China, Roberta’s pizza, Kati Roll Company, PokeWorks, Kuro Obi Ramen, or some miscellaneous places but those are my go-tos.

The question always is: where can I go to get some nice sauce?

1:00 PM

I need to catch up with emails and any one off tasks that need to get done. I have an inbound lead come in who requested a demo. My job is to reach out, learn about their business, ensure there is a use case for our software and if so, schedule a time for them to see it in action.

I also take some time to stay familiarized with the industry and our product. For this, I’m constantly reading industry newsletters and publications about multifamily real estate like Bisnow, CRE Tech and MHN.

I also take some time to underwrite a mock deal using our system. A big part of any sales role is to be able to understand and empathize with your customers. Our users are always analyzing new deals and they use our software to make that process more efficient. So I like to take some time to pretend I’m a user and understand their workflows.

2:00 PM

I start making calls to individuals who may want to revisit the platform from past demos. I also conduct a few follow ups for Account Executive’s on deals they are trying to close.

I make calls to some individuals who expressed interest but just have not been able to book a time with.

Lastly, I make calls to prospects that we met at a recent industry conference we attended.

3:00 PM

Call block prep for 2 hours to make sure I have a prepared list of prospects to call tomorrow. We always make sure that we are prepared for the day’s calls prior to that day. We don’t want to walk in one morning and not know who we’re calling.

To find good targets to add to our campaigns, I utilize our Salesforce which is our CRM and a database called RCA to find current real estate transactions and information on investors, lenders and brokers.

The thought is always: which individuals make a good fit and why?

5:00 PM

I make any calls marked in PST to get them on the phone in the later afternoon. It doesn’t make sense to call someone in California at 9am ET.

After those last calls, I do a quick check to make sure all tasks have been completed throughout the day, and that I am 100% ready for tomorrow.

6:00 PM

I leave the office and hit the BDFM train to 34th St. Then I transfer to the PATH train back to Hoboken.

7:30 PM

I hit the gym to get body and mind right.

9:00 PM

I wath basketball. DLO breaks some ankles with ice in his veins!

11:00 PM

I stretch every night for 30 minutes before going to bed.

Asleep by 11:30 PM

How do you define your best work and what value does your best work bring?

What would you tell your 18 year old self today?

What is your advice for aspiring Business Development Representative s?

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